The Bank of England has opened a formal investigation into the possible manipulation of money-market auctions held at the start of the financial crisis and whether its officials were involved, the Financial Times reported on Saturday.
The months-old probe is being conducted by the lawyer who led the Bank's investigation into the rigging of forex markets, Anthony Grabiner, and he has so far interviewed about ten Bank staff, the business daily said.
The Bank said it would not provide a "running commentary" into any investigations but confirmed no action had been taken or was being considered against any of its employees.
"If the bank were conducting an investigation or review of any of its activities, as it does from time to time, it would be wholly inappropriate to provide a running commentary via the press," a spokesman told AFP.
"I can tell you that no actions have been taken or are currently being contemplated against any employee of the Bank."
When the financial crisis hit in 2007 and 2008, concerns that major banks could not fund their debts damaged confidence in the interbank lending system, where commercial banks lend to each other.
Banks were left struggling to obtain the money required to meet their day-to-day operating needs.
So the Bank intervened, auctioning off billions of pounds (euros, dollars) of what were effectively short-term loans at low interest rates.
GMT 05:55 2018 Tuesday ,23 January
US tax reforms send UBS profits plungingGMT 13:12 2018 Sunday ,21 January
CBB signs memorandum of understanding with DFSAGMT 04:49 2018 Saturday ,20 January
HSBC in $100 million forex fraud settlementGMT 14:14 2018 Wednesday ,17 January
Strong euro 'source of uncertainty' for ECBGMT 17:00 2018 Tuesday ,16 January
IMF 'concerned' by Kiev's plan for anti-corruption courtGMT 19:29 2018 Monday ,15 January
Central Bank issues commemorative coin for Dh189GMT 06:05 2018 Sunday ,14 January
Bitcoin shouldn't become the new Swiss bank accountGMT 21:23 2018 Wednesday ,10 January
BCCI elections committee holds second meetingMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor